The Influence Research Of Operation Mode Of Light Assets On Financial Strategy Of Real Estate Enterprises

As the pillar industry of economy of our country,real estate industry has the function of stimulating and stabilizing economy.The government attaches great importance to the healthy development of the real estate market and issues a series of policies of loan and purchase restriction.At present,because of the government’s macro-control policies,the increasing proportion of rental market in housing supply system and increasing difficulties of obtaining land,most domestic real estate enterprises are faced with various financial difficulties,such as more inventory surplus,high development cost,lack of financing channels,unreasonable investment structure.In the face of such challenges,some large-scale real estate enterprises learnt from the mature experience of famous real estate enterprises abroad and are transforming from heavy asset operation mode to light asset operation mode.However,for most real estate enterprises,the light asset operation mode is still a new business mode.There are many problems from this business model to financial strategy of company,which require us to carry out further researches.This paper adopts the methods of literature analysis,comparative analysis,case study method,and quantitative research.Firstly,it analyzes the current difficult financial position in our real estate companies.Secondly,it introduces overview of light asset operation mode and its influence on financial strategy of real estate companies to help them deepen understanding of the mode.Then it expounds the background information and some problems of financial strategy of Poly Real Estate.Moreover,it constructs a logical framework of from light asset operating mode,planning of financial strategy,financial strategy analysis to financial strategy performance estimation,interpreting the changes in its financial strategy and performance.I believe that it will offer ideas to help achieve light assets transformation for many domestic real estate companies.Finally,this paper puts forward to some political suggestions of financial strategy for other real estate companies,which are divided into three aspects:investment strategy,financing strategyand working capital strategy.The reasons why this paper selects Poly Real Estate as the case study object are that itis one of the first real estate enterprises to transform from heavy asset operation mode to light asset operation mode and it has been maintaining front-runner status of business performance and financial strategic management.Based on the case study of Poly Real Estate,this paper finds that the asset-light mode has affected layouts of its financial strategy and further affected the asset structure,revenue model and cash flow.Poly Real Estate has improved its asset structure,added new revenue models and profit points and eased cash flow shortages by the re-planning of financial strategy.I really hope that this paper can help our real estate companies find appropriate light asset path and ascertain the correct financial strategy,focusing resources on own good points to earn the benefits of value-added services,enhancing competitive advantages.